MarketFriction

TVS Holdings Ltd

NSE TVSHLTD · BSE 520056 · Investment Company
₹11,886.00 -1.83%
NSE close2026-10-01
52 week range12,045.00 - 16,297.00
Market cap₹24,881 Cr.
P/E12.5
Price band 20% Delivery 57.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales10,60710,01410,02510,38311,55411,35911,80012,74214,54915,27615,58817,076
Expenses9,1248,4748,5088,9079,8789,5449,90810,74112,28812,81513,18914,301
Operating Profit1,4831,5401,5171,4761,6771,8151,8932,0022,2612,4612,3992,775
OPM %14%15%15%14%15%16%16%16%16%16%15%16%
Other Income1171915822181113-35307
Interest517516532517522551635663651651653708
Depreciation252244264242261260309332341361372381
Profit before tax7267877407329011,0269671,0191,2821,4141,4041,693
Tax %37%32%37%34%34%33%33%34%31%31%38%31%
Net Profit4575324644815996856446758809698651,174
EPS in Rs112.83111.03114.97107.37137.76191.11140.09166.11219.24244.14209.96302.10
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales12,46413,49817,51221,54819,89120,34725,60533,66239,88244,99358,15462,488
Expenses11,50612,49415,97319,20517,44717,91122,59929,35634,12238,14949,03252,592
Operating Profit9591,0041,5392,3432,4442,4373,0064,3065,7606,8449,1229,896
OPM %8%7%9%11%12%12%12%13%14%15%16%16%
Other Income10217112128-40-11811859702015
Interest102883727199109299851,4242,0322,2232,6172,663
Depreciation3173774475346496438459861,0111,0671,4061,455
Profit before tax6417108411,1188458541,1842,0132,7763,6245,1195,793
Tax %26%23%25%33%26%31%30%34%36%34%34%
Net Profit4725476297506275928241,3331,7822,4093,3903,888
EPS in Rs144.49163.47167.39213.93166.89160.24218.19321.61396.23576.33839.45975.44
Dividend Payout %28%19%9%17%19%16%20%18%24%16%10%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth17%23%20%32%
Compounded Profit Growth20%39%40%56%
Stock Price CAGR19%34%31%-4%
Return on Equity20%23%29%31%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital101010101010101010101010
Reserves1,2781,5131,8572,1412,4642,4532,8945,0693,2312,8304,6776,456
Borrowings1,4971,4611,6657,59310,02212,31412,85316,59325,01326,23232,48836,156
Other Liabilities2,7403,2333,7855,0165,6745,8357,5518,66210,86915,45816,72021,031
Total Liabilities5,5256,2167,31714,76118,17020,61223,30930,33439,12344,53053,89563,653
Fixed Assets2,0402,4682,8513,6274,0304,4604,8506,3396,9315,6307,5198,943
CWIP102691013967561,0171,0505608211,0291,4822,074
Investments6011,0551,3336076184726736441,0221,2041,3201,217
Other Assets2,7822,6243,03210,13112,76614,66316,73522,79030,34836,66743,57451,419
Total Assets5,5256,2167,31714,76118,17020,61223,30930,33439,12344,53053,89563,653
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1381,075838324-7104581,215-1,548-4,111-8673,5351,137
Cash from Investing Activity-461-715-818-1,379-1,324-1,055-979-1,705-1,439961-2,857-3,015
Cash from Financing Activity179-373-611,1982,0851,7952613,1165,9798471,2091,792
Net Cash Flow-144-13-40143511,199496-1374299411,886-86
Free Cash Flow-28843080-954-2,009-551238-2,568-5,574-1,3411,082-2,064
CFO/OP40%130%98%43%-16%29%60%-38%-79%5%70%32%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days191923272929221916171417
Inventory Days584855444142464439603326
Days Payable7776839484971241079299103104
Cash Conversion Cycle-0-8-5-22-14-25-57-43-37-22-57-61
Working Capital Days-7-17-22-36-1937181-25-32-38-34
ROCE %18%20%19%16%15%12%11%11%12%15%15%17%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.45%74.45%74.45%74.45%74.45%74.45%74.45%74.45%74.45%74.45%74.45%74.45%
FIIs0.99%1.13%2.31%2.53%2.62%2.65%2.69%2.84%3.01%3.13%3.29%3.25%
DIIs12.56%12.20%11.19%10.48%10.31%10.13%10.28%10.02%9.87%9.86%9.83%9.79%
Government0.00%0.00%0.00%0.00%0.00%0.02%0.02%0.00%0.00%0.00%0.00%0.00%
Public11.98%12.21%12.04%12.53%12.61%12.73%12.55%12.68%12.68%12.56%12.43%12.50%
No. of Shareholders22,31724,09924,42926,79529,97332,64334,62933,79931,85230,61230,72230,197

Fundamentals

Market Cap₹ 24,881 Cr.
Current Price₹ 12,298
Stock P/E12.5
Book Value₹ 3,201
ROCE17.0 %
ROE30.6 %
Dividend Yield0.70 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)32%
Compounded Profit Growth (TTM)56%
Consolidated figures.
Valuation
Market capRs 24,048 Cr
Enterprise valueRs 54,801 Cr
P/E (TTM)12.20x
Price to book3.72x
Price to sales0.38x
EV / EBITDA5.53x
EV / EBIT6.48x
EV / sales0.88x
Price to cash flow21.14x
Earnings yield8.19%
Dividend yield0.72%
P/E, 3-year average17.41x
P/B, 3-year average4.63x
P/E, 5-year average15.11x
P/B, 5-year average3.40x
Profitability
Operating margin (excl. other income)15.69%
Operating margin (incl. other income)15.72%
EBITDA margin15.86%
Pre-tax margin9.27%
Net profit margin3.15%
Net margin, latest quarter3.57%
ROE30.41%
ROCE19.39%
ROA2.89%
ROE, 3-year average29.22%
ROCE, 3-year average17.94%
ROA, 3-year average2.39%
ROE, 5-year average22.86%
ROCE, 5-year average15.84%
ROA, 5-year average2.14%
ROIC (approx.)15.05%
Tax rate33.77%
Other income / net worth0.30%
Growth
Sales growth (latest year)29.25%
Profit growth (latest year)45.66%
Sales CAGR, 3 years19.99%
Sales CAGR, 5 years23.37%
Profit CAGR, 3 years37.69%
Profit CAGR, 5 years39.27%
Sales growth QoQ9.55%
Profit growth QoQ43.89%
Sales growth YoY (latest quarter)34.01%
Profit growth YoY (latest quarter)81.87%
Per share
EPS (TTM)Rs 973.89
EPS (latest year)Rs 838.12
EPS (latest quarter)Rs 301.62
EPS, 3-year averageRs 603.04
EPS, 5-year averageRs 469.62
Book value per shareRs 3,195.78
Sales per shareRs 30,885.81
Cash flow per shareRs 562.13
Free cash flow per shareRs -1,020.16
Dividend per share (latest year)Rs 86.03
Dividend per share, 3-year averageRs 91.04
Dividend per share, 5-year averageRs 75.23
Dividends
Dividend payout10.26%
Dividend payout, 3-year average16.73%
Dividend payout, 5-year average17.76%
Efficiency
Asset turnover0.91x
Fixed asset turnover6.50x
Inventory turnover14.46x
Inventory days25 days
Debtor days17 days
Debtors turnover21.66x
Creditor days104 days
Cash conversion cycle-61 days
Working capital days-34 days
Leverage
Total debtRs 36,156 Cr
Cash and bankRs 5,403 Cr
Net debtRs 30,753 Cr
Debt to equity5.59x
Net debt / EBITDA3.10x
Interest coverage3.18x
Owners' fund to total sources10.16%
Debt to assets56.80%
Cash flow
Cash from Operating Activity (latest year)Rs 1,137 Cr
Cash from Investing Activity (latest year)Rs -3,015 Cr
Cash from Financing Activity (latest year)Rs 1,792 Cr
Net Cash Flow (latest year)Rs -86 Cr
Free cash flow (latest year)Rs -2,064 Cr
FCFE (approx.: FCF + change in debt)Rs 1,604 Cr
Cash from ops / profit, 5 years-0.19x
Sales to cash flow51.13x
Statement figures
Net sales (TTM)Rs 62,488 Cr
Net sales (latest year)Rs 58,154 Cr
Sales (latest quarter)Rs 17,076 Cr
Operating profit excl. other income (latest year)Rs 9,122 Cr
Operating profit (latest quarter)Rs 2,775 Cr
Other income (TTM)Rs 15 Cr
EBITDA (TTM)Rs 9,911 Cr
PBDT (TTM)Rs 7,248 Cr
Profit before tax (TTM)Rs 5,793 Cr
Tax (latest year)Rs 1,729 Cr
Net profit (TTM)Rs 1,970 Cr
Net profit (latest year)Rs 1,696 Cr
Net profit (latest quarter)Rs 610 Cr
Depreciation (TTM)Rs 1,455 Cr
Depreciation (latest quarter)Rs 381 Cr
Interest (TTM)Rs 2,663 Cr
Cost of goods sold (latest year)Rs 35,569 Cr
Total expenditure (latest year)Rs 49,032 Cr
Total income (latest year)Rs 58,174 Cr
Share capitalRs 10 Cr
ReservesRs 6,456 Cr
Shareholders' fundsRs 6,466 Cr
Total assetsRs 63,653 Cr
Net blockRs 8,943 Cr
Capital work in progressRs 2,074 Cr
InvestmentsRs 1,217 Cr
ReceivablesRs 2,685 Cr
InventoryRs 2,459 Cr
Other liabilitiesRs 21,031 Cr
Shares outstanding (crore)2.02
Ownership
Promoter holding74.45% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 12.2 is at the 16th percentile of its own 9.4-year range (median 20.7, low 6.5, high 36.2).
P/B 3.72 is at the 55th percentile (median 3.25).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodTVSHLTDNifty 50Difference
1 week-4.9%-2.8% -2.1 pts
1 month-10.3%-6.8% -3.6 pts
3 months-15.6%-7.6% -8.0 pts
6 months-14.8%+0.4% -15.2 pts
1 year-8.4%-9.9% +1.6 pts
2 years-14.8%-13.6% -1.2 pts
3 years+117.7%+14.2% +103.5 pts
5 years+249.1%+27.9% +221.2 pts
26 mutual fund schemes hold about ₹2,246 Cr. Over three months 19 bought more and 3 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI ELSS Tax Saver Fund1.12%355 +15%
Nippon India ELSS Tax Saver Fund2.39%351 +16%
Aditya Birla SL ELSS Tax Saver Fund2.01%292 +14%
Sundaram Mid Cap Fund1.29%192 +8%
Sundaram Mid Cap Fund1.29%187 +8%
Bandhan Small Cap Fund0.53%182 -4%
ICICI Pru Small Cap Fund1.38%136 -9%
ICICI Pru Small Cap Fund1.38%132 -9%
ICICI Pru Flexi Cap Fund0.48%125 -0%
ICICI Pru Value Fund0.12%70 -32%
Sundaram Multi Cap Fund1.70%52 +9%
ICICI Pru Business Cycle Fund0.26%41 +17%
ICICI Pru Manufacturing Fund0.57%41 -0%
Aditya Birla SL Conglomerate Fund2.07%33 +16%
ICICI Pru Dividend Yield Fund0.46%31 +13%
Templeton India Value Fund0.69%14 +22%
Arudha Equity Long-Short Fund2.93%3 +42%
Titanium Hybrid Long-Short Fund0.49%3 +100%
Sundaram LT Micro Cap Tax Adv Fund-Sr III-2.39%2 +15%
Sundaram LT Tax Adv Fund-Sr III4.36%2 +14%
Sundaram LT Micro Cap Tax Adv Fund-Sr VI-2.53%1 +15%
Sundaram LT Tax Adv Fund-Sr IV4.09%1 +17%
Sundaram LT Micro Cap Tax Adv Fund-Sr IV2.46%1 +15%
Sundaram LT Micro Cap Tax Adv Fund-Sr V-2.49%1 +13%
HDFC BSE 500 Index Fund0.04%0 +4%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2025-05-05VS Trust (Venu Srinivasan, TrusteePromotersother1,300,000Rs 1181.77 CrOthers
2024-12-24VS Trust (Mr Venu Srinivasan, TrusPromotersother519,000Rs 559.83 CrPledge Creation
2023-09-05VS Trust (Venu Srinivasan, TrusteePromotersother977,778Rs 535.40 CrOthers
2023-08-29VS Trust (Venu Srinivasan, TrusteePromotersother1,466,667Rs 743.97 CrOthers
2023-08-18Srinivasan Trust (VS Trustee PrivaPromoter Groupsell52,805,752Rs 53.14 CrMarket Sale
2023-07-31Venu SrinivasanPromotersother276,410,298Rs 276.41 CrOff Market
2023-07-31VS INVESTMENTS PRIVATE LIMITEDPromoter Groupother1,473,890,346Rs 1473.89 CrOff Market
2023-07-31VS Trust (Venu Srinivasan, TrusteePromotersother1,197,480,048Rs 1197.48 CrOff Market
2023-06-16TVS HOLDINGS PRIVATE LIMITEDPromotersother9,565,000Rs 4531.18 CrScheme of Amalgamation/M
2023-06-16TVS HOLDINGS PRIVATE LIMITEDPromotersother13,094,460Rs 6203.17 CrScheme of Amalgamation/M
2023-06-16VS Trust (Venu Srinivasan, TrusteePromotersother10,323,103Rs 4890.31 CrScheme of Amalgamation/M
2023-06-16Venu SrinivasanPromotersother2,382,847Rs 1128.81 CrScheme of Amalgamation/M
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹17,076 Cr +34.0% vs Jun 2025. Net profit ₹1,174 Cr +73.9%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-08Scheme Of Arrangement - Bonus Ncrps 46:1
2026-04-02Interim Dividend - Rs 86 Per Share
2025-03-28Interim Dividend - Rs 93 Per Share
2024-04-02Interim Dividend - Rs 94 Per Share
2023-08-24Demerger
2023-03-24Bonus Ncrps 1:116
2023-02-03Interim Dividend - Rs 59 Per Share
2022-03-29Interim Dividend - Rs 44 Per Share
2021-03-30 Interim Dividend - Rs 11 Per Share
2021-02-04 Interim Dividend - Rs 15.00 Per Share
2020-03-17 Interim Dividend - Rs 31 Per Share
2019-03-18 Interim Dividend - Rs 16 Per Share
2019-01-31 Interim Dividend - Rs 20 Per Share
2018-03-22 Interim Dividend Rs 15/- Per Share (Purpose Revised)
2017-03-20 Interim Dividend Rs 16.50 Per Share (Purpose Revised)
2016-11-10 Interim Dividend Rs 15/- Per Share (Purpose Revised)
2016-03-21 Interim Dividend - Rs 20/- Per Share (Purpose Revised)
2016-02-16 Iinterim Dividend Rs 21/- Per Share (Purpose Revised)
2015-08-14Annual General Meeting
2015-05-13Third Interim Dividend - Rs 6/- Per Share (Purpose Revised)
2015-03-25Second Interim Dividend Rs 4/- Per Share
2015-02-09Interim Dividend - Rs 9/- Per Share (Purpose Revised)
2014-08-13Annual General Meeting
2014-07-11E-Voting
2014-05-19Third Interim Dividend Rs 6.50/- Per Share (Purpose Revised)
2014-03-24Second Interim Dividend - Rs 3.75/- Per Share (Purpose Revised)
2013-10-31Interim Dividend Rs.9/- Per Share (Purpose Revised)
2013-08-21Annual General Meeting
2013-05-13Interim Dividen Rs 5 Per Share
2013-02-13Interim Dividend Rs 9 Per Share (Purpose Revised)
2012-11-26Annual General Meeting
DateTypeWhat it says
2026-09-23UpdatesPostal Ballot as per Section 110 of the Companies Act, 2013.
2026-09-23AppointmentAppointment of Ms Revathy Iyer as Non- Executive Independent Director of the company w.e.f. September 23, 2026.
2026-09-09AllotmentAllotment of 93,06,76,784 Bonus 6% Cumulative Non-Convertible Redeemable Preference Shares pursuant to Scheme of Arrangement
2026-09-05Credit RatingCredit Rating
2026-08-27Record DateRecord date for the purpose of determining eligible shareholders of the Company who will be entitled to receive the 6% cumulative non-convertible rede...
2026-08-27General UpdatesReceipt of the certified copy of the Order dated 18th August 2026 passed by the Honble National Company Law Tribunal, Chennai Bench, sanctioning the S...
2026-08-19General UpdatesApproval of the Scheme of Arrangement between TVS Holdings Limited and its shareholders
2026-08-05Amalgamation/MergerAmalgamation/Merger
2026-07-22Shareholder meetingVoting results.
2026-07-22Shareholder meetingProceedings of Annual General Meeting held on July 22, 2026
2026-07-21Board meeting outcomeTVS Holdings Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-20General UpdatesGeneral Updates
2026-07-15AcquisitionAcquisition
2026-07-02AcquisitionAcquisition
2026-06-29Shareholder meetingNotice of Annual General Meeting to be held on July 22, 2026
2026-06-29UpdatesBusiness Responsibility and Sustainability Report for the Financial Year 2025-26.
2026-06-17Disclosure under SEBI TakeovVenu Srinivasan, Trustee VS Trust has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of In...
2026-05-13Board meeting outcomeOutcome of Board Meeting held on May 13, 2026.
2026-05-13Board meeting outcomeTVS Holdings Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-24Shareholder meetingTVS Holdings Limited has submitted the Exchange the details of voting results of the meeting of Equity Shareholders of TVS Holdings Limited ( Company ...
2026-04-24Shareholder meetingProceedings of the meeting of the Equity Shareholders of TVS Holdings Limited convened on Friday, 24th April, 2026 pursuant to the Order of Hon ble Na...
2026-04-13Credit RatingCredit Rating
2026-04-10UpdatesClarification on the date of NCLT convened meeting of Equity Shareholders of TVS Holdings Limited convened pursuant to the directions of the Honble Na...
2026-04-08Disclosure under SEBI TakeovTSF Investments Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Subst...
2026-03-28AcquisitionAcquisition
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of TVS Holdings Ltd?

TVS Holdings Ltd (TVSHLTD) has a market capitalisation of Rs 24,881 Cr. at the 2026-10-01 close.

What is the P/E ratio of TVS Holdings Ltd?

TVS Holdings Ltd trades at a P/E of 12.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were TVS Holdings Ltd's latest quarterly results?

In the Jun 2026 quarter, TVS Holdings Ltd sales was Rs 17,076 Cr (+34.0% vs Jun 2025) and net profit was Rs 1,174 Cr.

What is the 52-week high and low of TVS Holdings Ltd?

The 52-week high is Rs 16,297.00 and the 52-week low is Rs 12,045.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03